Great Boulder Resources (ASX:GBR) accelerates Side Well exploration with three rigs in operation

Great Boulder Resources (ASX:GBR) has increased the pace of drilling at its flagship Side Well Gold Project near Meekatharra, Western Australia, with three rigs now on site.

The program is designed to generate geotechnical and metallurgical data, continue definition drilling, and test new regional targets.

In this Q&A, Managing Director Andrew Paterson answers key questions that investors may have about the company’s latest progress and upcoming milestones.

Why has Great Boulder added a third rig to the Side Well Project?

We have expanded our operations at Side Well by introducing a diamond rig, which now brings the total number of rigs on site to three.

The diamond rig is currently operating at Ironbark, while the RC rig continues at Eaglehawk and the AC rig has been working at Ironbark North.

The addition of the third rig allows us to accelerate work across multiple areas simultaneously, ensuring that geotechnical studies, resource definition, and target testing all move forward together.

The diamond rig has a specific purpose of generating oriented core for geotechnical assessment of the Ironbark Stage 2 pit design.

At the same time, that core will later be used for metallurgical testing, which means we are maximising the value of every metre drilled while advancing both technical and development objectives.

What is the focus of the current diamond drilling at Ironbark?

The diamond drilling program at Ironbark consists of seven holes positioned around the Stage 2 pit design area.

These holes are designed to provide detailed information on rock strength and pit wall stability, which are critical inputs for slope stability modelling and detailed mine design.

“Those holes have also been designed to provide samples for metallurgical testing once the geotechnical logging is complete, maximising the value of each hole drilled.”

Once the geotechnical assessment is finished, the mineralised sections of the core will be tested for processing performance, including gravity and leach recovery, bond work index, and abrasivity.

This combined geotechnical and metallurgical approach ensures that we gather both mining and processing data at the same time, which makes the program efficient and effective in supporting future pre-feasibility studies.

Can you provide an update on the Eaglehawk drilling program?

At Eaglehawk, the RC rig is continuing with Phase 3 definition drilling, which is aimed at advancing the prospect towards inclusion in future resource estimates.

A recent development has been the intersection of coarse visible gold in hole 25EHRC024, reported on 9 September, which prompted immediate follow-up work.

“That program is already being adjusted in response to the weekend’s intersection of vein-hosted coarse visible gold, with follow-up holes to be drilled in the next few days.”

We are now drilling additional holes to test this new mineralisation, assessing its continuity, grade, and potential impact on the resource base.

The program remains flexible, allowing us to respond to results as they come in, and assays from earlier drilling are still pending, meaning more updates from Eaglehawk will follow in the coming weeks.

What exploration work is being carried out beyond Ironbark and Eaglehawk?

Alongside the definition and geotechnical drilling, the AC rig has been undertaking reconnaissance work over several new targets.

These include ground north of Eaglehawk, north of Ironbark, and an unexplained geophysical anomaly located between the Central and Eastern Corridors that is considered highly prospective given its geological similarity to the Mulga Bill–Eaglehawk trend.

“Meanwhile the AC rig is well advanced with the first phase of drilling over some of the new targets that we are hoping will turn into gold discoveries for additional resource growth.”

So far, the AC rig has completed 91 holes, and all samples are at the laboratory awaiting assay.

The goal of this work is to identify additional zones of mineralisation that can add to the company’s current 668,000oz Mineral Resource Estimate at Side Well.

Once assays are available, the results will shape the design of follow-up drilling programs aimed at progressing these new targets.

When should shareholders expect assay results and further updates?

Assay results are pending from a substantial volume of completed drilling, including 34 RC holes and 91 AC holes, as well as 21 RC holes from Side Well South and 13 RC holes from Ironbark.

Turnaround times have been impacted by high demand across Western Australia, with results now taking about 28 days compared with the long-term average of 21 days.

This has slowed reporting slightly, but results continue to come through on a rolling basis.

As assays are received, they will directly inform ongoing drilling plans, including any final definition work required at Eaglehawk, Ironbark, and Side Well South.

In addition, a program of deep diamond drilling at Mulga Bill and Eaglehawk is scheduled for the December quarter, providing another stream of exploration activity and updates.

Shareholders can therefore expect a strong pipeline of news over the coming months.

Strong Pipeline of News Ahead

The expansion of drilling capacity to three rigs has positioned Great Boulder Resources to advance multiple aspects of the Side Well Project at once.

Geotechnical and metallurgical studies at Ironbark, definition drilling at Eaglehawk, and reconnaissance programs across new regional targets are all underway, with a large number of assays pending.

The planned commencement of deep diamond drilling in the December quarter further adds to the flow of results and milestones expected in the near term.

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